It appears it's gone completely for me. Nothing shows up when I have a blank DVD+R disc in the drive or when there is no disc in the drive.
I had the option in the old version of Nero 184.108.40.206 originally. My NEC had the stock firmware of 2.16.
I then used a modified firmware on my NEC, then upgraded Nero to 220.127.116.11. After both upgrades, the option for the bit setting was there. I had set the bit setting option to be 'hardware' based since my firmware automatically set the DVD+R (SL), DVD+RW, and DVD+R (DL) to DVD-Rom.
Now that I've upgraded to 18.104.22.168 and now to 22.214.171.124, the option to bit set is gone in Nero.
I've made some test burns on DVD+R, and it seems like it had no impact on my hardware bit setting as I'm able to play the DVD+R on a 1st generation Apex DVD player that I have that only plays DVD-Roms.